ADVERTISEMENT

ADVERTISEMENT

Set sale of Grand Forks Corporate Center I furthers reduction of buildings the city leases out

City Administrator Todd Feland said the sale of both centers has been planned for years as the city reduces the number of city-owned properties that are leased to tenants.

Part of the Corporate Center in downtown Grand Forks. Corporate Center II was sold in 2021 and Corporate Center I is scheduled to be sold by the end of this year. (April Baumgarten/Grand Forks Herald)
Part of the Corporate Center in downtown Grand Forks is shown here. Corporate Center II was sold in 2021 and Corporate Center I is scheduled to be sold by the end of this year.
April Baumgarten/Grand Forks Herald
We are part of The Trust Project.

GRAND FORKS – The scheduled sale of Corporate Center I by the end of the year continues an effort by the city of Grand Forks, which has reduced the number of city-owned buildings that it leases to tenants.

In October, members of the Grand Forks Jobs Development Authority, an economic development panel made up of City Council members and Mayor Brandon Bochenski, voted unanimously to approve the sale of Corporate Center I at a purchase price of approximately $5.7 million.

Last year, Grand Forks officials approved the sale of Corporate Center I’s counterpart, Corporate Center II , for $2.5 million to Grimsley Consulting LLC.

The two centers, which sit across from each other on DeMers Avenue in downtown Grand Forks, were built in the aftermath of the Flood of 1997, with the purpose of rebuilding downtown.

City Administrator Todd Feland said the sale of both centers has been planned for years as the city reduces the number of city-owned properties that are leased to tenants.

ADVERTISEMENT

“The intent was to reduce down the scope of what we have …” Feland said.

During a Grand Forks Growth Fund Committee meeting last year when Corporate Center II was sold, some members of the subcommittee noted that they don’t want the city competing with private landlords.

In 2020, Cirrus Aircraft purchased its building — located in the industrial park on the city's western edge — from the city.

“We really have reduced significantly our inventory,” Feland said.

READ MORE GRAND FORKS CITY NEWS
Exclusive
A resident recently criticized the city for not telling the Air Force about the Grand Forks project. But the city says it didn't know about the project's Chinese ties until late in the process.

With Corporate Center I scheduled to be sold by the end of the year, the city will still own two buildings that are leased out. One is the Herald building, soon to become the Hybrid Innovation Venture Engine (or HIVE) , which the city bought in 2019 from Forum Communications for $2.75 million. Portions of the building are leased to the Herald, the Grand Forks Region Economic Development Corporation and Thread, formerly Airtonomy.

The second building is Noah’s Ark, which is made up of two spaces. The manufacturing area has been rented to LM Wind Power for the past few decades and a smaller office area in the building was recently renovated by the manufacturer for lease. The Engineering Department occupied the space during the recent second phase of ongoing renovations within City Hall.

Feland said lease rates for tenants in the HIVE will be reevaluated once it is completed.

“We’re still finishing the building, but when you look at '23 and '24, we will look at new lease rates for that building,” he said.

ADVERTISEMENT

As for Noah’s Ark, Feland said an existing lease exists with LM Wind Power.

Related Topics: CITY OF GRAND FORKS
Meghan Arbegast grew up in Security-Widefield, Colorado. She earned a Bachelor of Science in Journalism from North Dakota State University in Fargo, in 2021.

Arbegast wrote for The Spectrum, NDSU's student newspaper, for three years and was Head News Editor for two years. She was an intern with University Relations her last two semesters of college.

Arbegast covers news pertaining to the city of Grand Forks/East Grand Forks including city hall coverage.

Readers can reach Arbegast at 701-780-1267 or MArbegast@gfherald.com.

Pronouns: She/Her
Languages: English
What To Read Next
His preliminary hearing is scheduled for 9 a.m. on Feb. 27.
Awards event highlights the annual meeting in Minneapolis.
The administration is bringing back an Obama-era decision, later reversed by Trump, that bans new mineral leases on 225,500 acres of the Superior National Forest for the next two decades.
His trial hasn't been scheduled, but will take place no earlier than May.